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Importer Exporter Code


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About Importer Exporter Code

In today's interconnected global economy, businesses of all sizes are capitalizing on international trade opportunities to expand their reach, diversify markets, and drive growth. At the heart of this cross-border commerce lies the Importer Exporter Code (IEC), a unique identification number that is essential for engaging in import and export activities. In this blog post, we'll delve into the significance of the Importer Exporter Code, its benefits, and the essential steps involved in obtaining this crucial credential for your business.

The Importer Exporter Code (IEC) is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It serves as a mandatory requirement for businesses or individuals involved in importing or exporting goods and services to or from India. The IEC facilitates seamless trade transactions, ensures compliance with regulatory requirements, and enables businesses to leverage global market opportunities effectively.

Advantages

Expansion of Business

IEC assists you in taking your services or product to the global market and grow your businesses.

Availing Several Benefits

The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.

No Filling of returns

IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of processes for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

Easy Processing

It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide a proof of any export or import for getting IEC code.

Steps Required for IMPORTER EXPORTER CODE registration

Preparation of Documents :Gather the necessary documents required for IEC application, including PAN card, Aadhaar card, bank certificate, and passport-sized photograph of the applicant.

Online Application :Visit the DGFT's official website (dgft.gov.in) and fill out the online application form for IEC registration (ANF 2A). Provide accurate details about the business, its ownership, address, and proposed import-export activities.

Document Submission :Upload scanned copies of the required documents, such as PAN card, Aadhaar card, and bank certificate, along with the completed application form. Ensure that all documents are clear, legible, and in the prescribed format.

Payment of Fees :Pay the prescribed IEC application fee online using internet banking, credit card, or debit card. The fee may vary depending on the category of the applicant (individual, partnership firm, company, etc.).

Verification and Approval :The DGFT will verify the application and supporting documents submitted. Upon successful verification, the Importer Exporter Code (IEC) will be generated and issued electronically. The applicant will receive an email notification with the IEC details.

Download and Print IEC Certificate :Download and print the IEC certificate containing the unique 10-digit code issued by the DGFT. The certificate serves as proof of registration and must be retained for future reference and compliance purposes.

DOCUMENTS REQUIRED FOR REGISTRATION

  • PAN Card : The Permanent Account Number (PAN) card of the applicant entity or individual is required for identity verification and tax purposes.
  • Identity Proof : Valid identity proof of the applicant, such as Aadhaar card, passport, voter ID card, or driver's license.
  • Address Proof : Valid address proof of the applicant, such as Aadhaar card, passport, voter ID card, driver's license, utility bills (electricity bill, water bill, etc.), or rent agreement.
  • Bank Certificate : A canceled cheque or bank statement from the applicant's bank confirming the bank account details, including the account holder's name, account number, IFSC code, and MICR code.
  • Digital Photograph : Passport-sized photograph of the applicant entity's authorized signatory, in the prescribed format.
  • Memorandum of Association (MOA) and Articles of Association (AOA) : In case of a company, the MOA and AOA are required as proof of the legal structure of the entity.
  • Certificate of Incorporation (COI) : In case of a company, a copy of the Certificate of Incorporation issued by the Registrar of Companies (RoC) is required.
  • Partnership Deed : In case of a partnership firm, a copy of the Partnership Deed is required.
  • Trust Deed : In case of a trust, a copy of the Trust Deed is required.

Eligibility

IEC is not required under the following circumstances:

Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.

Import/export by government ministries and departments, and certain notified charitable organizations.

Frequently Asked Questions

Any person who intends to import or export goods and services from or to India must obtain Import Export Code, one can apply i.e, code online and get their IE code certificate or IE code license online.

No, tax is not levied on Import Export Code. However, custom duty maybe levied. Custom duty depends to the category of the products imported or exported. This can be found at the custom departments’ website.

After submitting all the requisite documents IEC is typically allotted by DGFT in 5-10 days. It is not necessary to show proof of any import or export to obtain IE Code. Now a days, as IEC can we partially applied online with the help of digital signature, IEC can be obtained in less than a week.

If you have taken IEC Certificate in new process e-IEC online, then you can download your certificate any time by login into the IEC portal with your username details. But if you had taken your IEC in physical process, you have to re-apply for e-IEC with all the documents and DGFT will provide you certificate in new online format.

If you or a company wants to modify any details in IEC license, then you can do it online in your IEC application. IEC modification required resubmitting the application with the DGFT once again with all the required documents. Also, IEC modification fee needs to be submitted with the department.

IEC is only a license permitting the import and export of goods. Therefore, no return is required to be filed under IEC code.

You will not need an IEC code under the following cases :

  • Person exporting or importing goods for personal use and not for activities related to business.
  • Persons exporting or importing goods to/from Nepal or Myanmar through Indo-Myanmar border areas, a value of which does not exceed Rs.25,000/- in a single assignment.
  • Ministries or departments of central government do not require obtaining IEC.

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